Business Approach To Frontier Technology

The depressed economic condition resulting from normal cyclic behavior, a more fundamental structural alteration, or both, is a mandate for change within the mining industry. Although several strategies for change have been proposed, the option of applying high technology processes to this smokestack industry offers the greatest opportunity for regaining global competitiveness and a new vitality. Research and development to secure new technologies require a corporate commitment for substantive change, a tech¬nologically enlightened management, a well¬funded and stable science and engineering effort, and a dedicated and motivated technical team--features in short supply in the mining industry today. However, an alternative to in-house development of frontier technologies is available to this beleagured industry through entrepreneurial, high-tech companies. These entities, with their dedicated focus toward product development, motivated and streamlined teams, high productivity and efficiency, and low costs offer a unique opportunity for large corporations to obtain high-tech products and services. These commodities are available through traditional commercial channels and an array of creative business arrangements. The latter offers notable benefits to large companies including windows on frontier technologies and mitigation of risk. Likewise, entrepreneurial companies profit through manufacturing and marketing relationships and an expanded financial base.